Check

A check (or cheque in British English) is a written order instructing a bank to pay a specific amount from the writer's account to the person or entity named on the check.

Checks contain key elements including the routing number, account number, check number, date, payee name, amount in words and figures, and the payer's signature. While declining in use, checks remain important for certain transactions and appear on bank statements when deposited or written. Checks are often deposited with a deposit slip, and alternatives include money orders. Variants include post-dated checks and stale-dated checks.

Related Terms

Payee

A payee is the person or entity to whom a payment is made. On a check, the payee is the name written...

Payer

A payer is the person or entity making a payment. On a check, the payer is the account holder whose ...

MICR

Magnetic Ink Character Recognition

MICR is a technology used on checks that allows machines to read the routing number, account number,...

Routing Number

ABA Routing Transit Number

A routing number is a nine-digit code used in the United States to identify financial institutions. ...

Endorsement

An endorsement is a signature on the back of a check that authorizes the bank to process it. The pay...

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